Pharmacy Automation Solution Market Key Trends, Insights, Analysis 2024-2033: A Comprehensive Report

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Overview and Scope

Pharmacy automation solutions refer to using technology and automated systems to streamline various processes within a pharmacy setting. These solutions aim to improve efficiency, accuracy, and patient safety while reducing manual labor and potential errors.

Sizing and Forecast

The pharmacy automation solution market size has grown rapidly in recent years. It will grow from $7.16 billion in 2023 to $7.94 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to increased prescription volume, medication error reduction, labor shortages in healthcare, regulatory compliance requirements, patient demand for convenience.

The pharmacy automation solution market size is expected to see rapid growth in the next few years. It will grow to $12.04 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to telehealth and remote pharmacy services, integration with electronic health records (ehrs), advanced medication management, pharmacy workload optimization, global healthcare trends. Major trends in the forecast period include inventory management solutions, patient-centric approaches, regulatory compliance, data analytics and reporting, interoperability with electronic health records (ehr).

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Segmentation & Regional Insights

The pharmacy automation solution market covered in this report is segmented –

1) By Type: Automated Medication Dispensing, Automated Packaging And Labeling, Automated Storage And Retrieval, Automated Medication Compounding, Other Types

2) By Automation Mode: Fully-Automatic, Semi-Automatic

3) By Applications: Inpatient Pharmacy, Outpatient Pharmacy, Retail Pharmacy, Other Applications

Asia-Pacific was the largest region in the pharmacy automation solution market in 2023. The regions covered in the pharmacy automation solution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The rising demand for pharmaceuticals is expected to propel the growth of the pharmacy automation solution market going forward. Pharmaceuticals are drugs or medications that prevent, diagnose, treat, or cure diseases or medical conditions. The pharmaceutical industry uses pharmacy automation solutions for drug delivery systems, tablet compression and coating, and liquid dosing as automation in the manufacturing process. For instance, in June 2023, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a European trade association representing the pharmaceutical industry, the total pharmaceutical production in Europe accounted for $384,200 million (€340,000 million) in 2022, with an increase of approximately 4.95% from 366,267 million (€323,950 million) in 2021. Therefore, the rising demand for pharmaceuticals is driving the growth of the pharmacy automation solution market.

Key Industry Players

Major companies operating in the pharmacy automation solution market report are McKesson Corporation, AmerisourceBergen Corporation, Cerner Corporation, MedAvail Technologies Inc., Baxter International Inc., Grifols Shared Services North America Inc., KUKA AG, Omnicell Inc., Swisslog Holding AG, Pearson Medical Technologies UK, Parata Systems LLC, TOSHO Co. Inc., ScriptPro LLC, ABX Engineering Inc., Innovation Associates Inc., Mediware Information Systems Inc., ARxIUM, Capsa Solutions LLC, Kirby Lester LLC, MEPS Real-Time Inc., RxSafe LLC, ForHealth Technologies Inc., Medacist Solutions Group, Yuyama Inc., Talis Clinical LLC, Willach Group.

The pharmacy automation solution market report table of contents includes: